An update is being added to the iBIS system that will prompt you to select a payment option when submitting Low Insurance Score New Business.

Prior to this update, a low insurance score (less than 786 with poor financial responsibility history) required one of the following options: 1) Full Pay, 2) Recurring Credit Card (quarterly, semi-annual, or annual), or 3) Mortgagee Billed.  iBIS provided an on-screen message explaining these payment options.

The updated iBIS automation will require you to select one of the options above before moving on.  These New Business Pay Plan requirements will be mandatory on the following Insurance scores:

1.  All insurance scores UNDER 786 (discount codes P-X)

2.  Insurance scores BETWEEN 786 and 835 (discount codes M-O) with a negative pay history code

Effective Date for this Update:  Thursday, March 28, 2013

If you have any questions regarding this update please do not hesitate to contact your Underwriter.  We are here to support you.